FIs closed: Community National Bank at Bartow, Bartow and Independent National Bank, Ocala Florida, USA
On Friday, 20 August, 2010, Community National Bank at Bartow, Bartow, Florida, USA and FIs closed: Community National Bank at Bartow, Bartow and Independent National Bank, Ocala Florida, USA were closed by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
To protect depositors, the FDIC entered into purchase and assumption agreements with CenterState Bank of Florida, National Association, Winter Haven, Florida, to assume all the deposits and essentially all the assets of the failed bank.
Collectively, the failed banks operated five branches, which will reopen as branches of CenterState Bank of Florida, N.A. under their normal business hours, including those offices with Saturday hours. Community National Bank At Bartow has one branch, and Independent National Bank has four branches.
As of 30 June, 2010, Community National Bank At Bartow had total assets of USD67.9 million and total deposits of USD63.7 million; and Independent National Bank had total assets of USD156.2 million and total deposits of USD141.9 million. CenterState Bank of Florida, N.A. did not pay the FDIC a premium for the deposits of the two failed banks.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Community National Bank At Bartow will be USD10.3 million; and for Independent National Bank, USD23.2 million.
These closings bring the total for the year to 112 banks in the USA and the twenty-first and twenty-second in Florida.
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